Question 1 of 1 - / 100 View Policies Current Attempt in Progress The bank portion of the bank reconciliation for Metlock Florists at November 30, 2020, was as follows METLOCK Florists Bank Reconciliation November 30, 2020 Cash balance per bank HK $14.112.00 2,450.00 Add: Deposits in transit Less: Outstanding checks 16,562.00 Check Number Check Amount 3451 HK$ 2.254.00 3470 686.00 3471 784.00 3472 1,372.00 3474 980.00 6.076.00 Adjusted cash balance per bank HK $10.486.00 The adjusted cash balance per bank agreed with the cash balance per books at November 30, The December bank statement showed the following checks and deposits Bank Statement Check Deposits = The December bank statement showed the following checks and deposits. Bank Statement Checks Deposits Date Number Amount Date Amount 12-1 3451 HK $2,254,00 12-1 HK$ 2,450.00 12-2 3471 784.00 12-4 1.176.00 12-7 3472 1,372.00 12-8 2,352.00 12-4 3475 1.568.00 12-16 2,646.00 12-8 3476 1,274.00 12-21 2.842.00 12-10 3477 2.058.00 12-26 2,548.00 12-15 3479 2.940.00 12-29 2.744.00 12-27 3480 588.00 980.00 12-30 12-30 3482 490.00 Total HK$17.738.00 12-29 3483 1.078.00 12-31 3485 531.00 Total HK $14.937.00 The cash records per books for December showed the following. Cash Receipts Journal Cash Payments Journal Amount Date Date Number Amount Date Amount Number 7100 Date Number Amount Date Number Amount Date Amount 12-1 3475 HK $1,568.00 12-20 3482 HK $490.00 12-3 HK$ 1.176,00 12-2 3476 1.274.00 12-22 3483 1.078.00 12-7 2,352.00 12-2 3477 2,058.00 12-23 3484 784.00 12-15 2,646,00 12-4 3478 588.00 12-24 3485 392.00 12-20 2.940.00 12-8 3479 2,940,00 12-30 3486 882.00 12-25 2,548.00 12-10 3480 588.00 Total HK $13.426.00 12-28 2.744,00 12-17 3481 784.00 12-30 980.00 12-31 1,666.00 Total HK $17.05200 The bank statement contained two memoranda: 1. Acredit of HK$2,385.00 for the collection of Metlock Florists of an electronic funds transfer. A debit for the printing of additional company checks HK$90.00 2. At December 31, the cash balance per books was HK $13,720.00, and the cash balance per the bank statement was HK 518,816.00 The bank did not make any errors, but two errors were made by Metlock. Using the four steps in the reconciliation procedure, prepare a bank reconciliation at December 31,2020. (Reconcile the bank balance first and then the book balance. List items that increase balances first. Round answers to 2 decimal places, es. 2,340.55) METLOCK LTD Bank Reconciliation Question 1 of 1 ./ 100 III December 31, 2020 HK$ HK$ v HK$ HK$ -/ 100 HII HKS V > HK$ >> HK$ e Textbook and Media List of Accounts Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amounts entered. Do not indent manually. Round answers to 2 decimal places, c.8. 2,340.55.) - 100 III List of Accounts Prepare the adjusting entries based on the reconciliation. (Hint: The correction of any errors pertaining to recording checks should be made to Accounts Payable. The correction of any errors relating to recording cash receipts should be made to Accounts Receivable.) (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 2.340.55.) Date Account Titles and Explanation Debit Credit Dec 31 (Cash received against receivables) 31 (Bank charge expense paid) 31 (Cash paid against accounts payable) 31 (Accounts receivables paid off)
